Handelsbanken Fonder AB Invests $182,000 in Global Business Travel Group, Inc. (NYSE:GBTG)

Handelsbanken Fonder AB acquired a new stake in Global Business Travel Group, Inc. (NYSE:GBTG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,600 shares of the company’s stock, valued at approximately $182,000.

A number of other hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in Global Business Travel Group by 19.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,339,395 shares of the company’s stock valued at $17,993,000 after purchasing an additional 386,636 shares in the last quarter. State Street Corp lifted its holdings in shares of Global Business Travel Group by 21.7% in the third quarter. State Street Corp now owns 1,946,990 shares of the company’s stock valued at $14,972,000 after buying an additional 346,540 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Global Business Travel Group by 41.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 806,519 shares of the company’s stock valued at $6,202,000 after buying an additional 237,682 shares in the last quarter. PB Investment Partners L.P. grew its holdings in Global Business Travel Group by 0.6% during the fourth quarter. PB Investment Partners L.P. now owns 613,264 shares of the company’s stock worth $5,691,000 after acquiring an additional 3,405 shares during the period. Finally, Advantage Alpha Capital Partners LP bought a new stake in Global Business Travel Group in the third quarter worth about $2,077,000. Institutional investors and hedge funds own 82.46% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. UBS Group started coverage on shares of Global Business Travel Group in a research report on Friday, November 22nd. They set a “buy” rating and a $11.00 price objective for the company. Morgan Stanley raised their target price on shares of Global Business Travel Group from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, December 12th.

Global Business Travel Group Trading Up 2.4 %

NYSE:GBTG opened at $8.51 on Tuesday. The stock has a fifty day simple moving average of $8.92 and a 200 day simple moving average of $8.35. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of -23.64 and a beta of 0.71. Global Business Travel Group, Inc. has a 1-year low of $4.49 and a 1-year high of $9.60. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.24.

Global Business Travel Group declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Global Business Travel Group Company Profile

Global Business Travel Group, Inc provides business-to-business (B2B) travel platform in the United States and internationally. The company's platform offers a suite of technology-enabled solutions to business travelers and clients; travel content suppliers, such as airlines, hotels, ground transportation, and aggregators; and third-party travel agencies.